Existing investors Austin Ventures, InterWest Partners and OpenView Partners also took part in the round, which brings the total raised by Spredfast to $63.5m.

The company, which boasts customers including Whole Foods and General Mills, produces software which helps businesses to manage their social media presence across platforms such as LinkedIn, Twitter and Facebook through a single dashboard.

Spredfast enjoyed substantial growth in 2012, seeing its revenues jump 400 per cent as it brought a number of high profile customers on board including AT&T, Caterpillar, Rackspace and Starbucks and expanded its relationships with AAA, T. Rowe Price, Whole Foods Market and Warner Brothers.